Homebuyers Feel The Property Market is Too Competitive.

According to Market Financial Solutions’ latest research, people who are looking to purchase homes are urging the government to take action on the highly competitive and stressful nature of the UK housing market.

The speciality lender commissioned an independent poll of UK individuals who have purchased a home in the last year or are presently in the process. The results show that 63% of respondents believe the UK property market is overly competitive. This opinion is considerably stronger among 18-24-year-olds, with 70% voicing concern, while 43% of those aged 35-44 agree.

Two-thirds (66%) of respondents polled felt the property buying process in the UK is too slow and complicated. Furthermore, 65% perceive obtaining a mortgage to be extremely stressful. The poll, which included more than 400 home purchasers, also revealed that 59% believe there is a shortage of the type of property they would want.

As Parliament reconvenes, a sizable majority (68%) of respondents believe that expanding home development should be the top priority for the next Labour government.

MFS Chief Executive Paresh Raja commented:

He added: